Is the recovery on the way? Slowly but surely, according to data provided by the barometer of Euler Hermes who notes an increase in business investment.
“After a second quarter 2014 worrying for business investment (+ 0%), it would increase by 1% this year to accelerate to 2.6% in 2016, “says Ludovic Subran, chief economist of the credit insurer.
While stating: “This was more than expected since the investment deficit would swell to 83 billion euros this year,”
The ETI will boldest
In 2015, if 8 out of 10 companies continue to invest, midsize businesses (ETI) will be even bolder: 93% of them will invest, against 75% for SMEs.
But the good news from the study is the rise of these investment intentions. Only 20% Business planned to invest more in 2013 in the previous barometer, they are to date 31% to ensure that they increase their efforts relative to 2014
The key word this year. “productive investment” or “offensive”
This year, one in two businesses seeking a productive investment, c that is to say, the increase in production capacity, the launch of a new activity, and spending on research and development.
An evolution since, in 2013, companies and favored ” a more defensive investment, 60% turned to the renewal and modernization of their production facilities. ” These are the automotive, with 65% of investment offensive, and services 67%, which are the most daring.
However, the wait-and caution dominate the issue of export: and 90% of companies do not increase their investments in export this year
Competition, pressure on prices. Enterprises are worried
If companies remain on the reserve, it is also because they are concerned about the difficulties they face, particularly in terms of competition. Among the main black spots, they are 33% to include the issue of Increased competition . In the services sector, 44% of firms cite this problem as the number one problem.
33% of bosses evoke the lack of opportunities , the figure rises to 39% in construction, which considers that this is the main concern of the industry.
Finally, 23% of companies evoke the margin level . In 2015, 46% of respondents see the pressure on prices as the main risk to their margins. A concern that has increased since 2013: the companies are twice as likely to be concerned. Lack of activity ranks meanwhile in second with 23% of respondents.
Companies have less visibility on their order book
The other information of Study to remember is the degradation of visibility of companies: 76% of them report having less than 6 months of visibility of their backlog, while they were 58% in the last barometer in 2013.
They are nevertheless 92% report having stabilized or improved their cash this year, against 75% in 2013. And do not evoke financing obstacles, and show “payment deadlines rather content for two out of three companies. “
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